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April 30 (Reuters) - Emerging market currencies dipped on Tuesday after soft Chinese data hit broad risk appetite towards developing world assets, while Turkey's lira dropped as comments from the central bank governor failed to whip up much investor confidence.
Manufacturing activity for April in China expanded for a second straight month but at a much slower pace, surveys showed, casting some doubt over the strength of an economic recovery underpinned by a slew of support measures.
"The weaker numbers will keep the hope of further monetary easing alive in markets and as such the numbers may not be that negative for Chinese stocks," Allan von Mehren, chief analyst and China economist at Danske Bank, wrote in a note.
While China's yuan dipped 0.1 percent, the Shanghai Composite tacked on half a percent.
MSCI's index of developing world currencies fell 0.2 percent, while its emerging market stocks index fell 0.5 percent.
Turkey's lira fell for a seventh straight session and was trading 0.4 percent weaker after hitting a more than six month low.
Many investors had been looking for details on the central bank's use of currency swaps to bolster foreign exchange reserves and indirectly inspire confidence in the lira, which is down about 11.5 percent this year.
However, Governor Murat Cetinkaya said while the bank knows the impact of swaps on its reserves, it does not design tools by looking at the impact on the reserves.
Turkish stocks rose 0.6 percent, as bank stocks came off a one-month closing low clocked in the previous session.
Russia's rouble slipped 0.3 percent while local stocks fell 0.4 percent.
Falling employment and weaker expansion of new business led to local manufacturing activity to slow in April, the Markit purchasing managers' index showed.
Sberbank fell 1.1 percent as it posted a lower return on equity for for the first quarter.
South Africa's rand was 0.4 percent weaker, with investors cautious before local trade data due later in the day.
A Reuters poll of analysts forecast that March trade data, due at 1200 GMT, would show a 4.8 billion rand surplus.
Johannesburg-traded stocks ticked up 0.1 percent on gains among consumer discretionary stocks such as Compagnie Financiere Richemont helping the index avoid a loss.
Hungary's forint edged firmer against the euro. The country's central bank is set to review borrowing costs later in the day, with most investors expecting them to be left unchanged at the record low of 0.9 percent.
However, following recent strong data, any possible hints on the tightening of liquidity going ahead will be keenly watched out for.
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For CENTRAL EUROPE market report, see
For TURKISH market report, see
For RUSSIAN market report, see (Reporting by Aaron Saldanha in Bengaluru; Editing by Angus MacSwan)